Chinese President confident of European economy

Chinese President Hu Jintao said on Thursday that China is confident about the Eurozone economy and expects financial reforms by some European countries to be successful, the official Xinhua News Agency reported. Hu made remarks during his meeting with French President Nicolas Sarkozy in Beijing, which they discussed the European debt crisis and the upcoming Group of 20 (G-20) summit. "We believe Europe has the wisdom and capability to overcome its current difficulties and maintain economic stability and growth," Hu was quoted as telling Sarkozy. "China is keeping a close watch on the European debt crisis," he added. Hu also underscored China's commitment to treat Europe as a major destination for investment. Sarkozy said measures have been taken in Europe to advance financial reform and boost economic governance in the Eurozone. In regards to China-France relations, Hu vowed to enhance strategic coordination with France in order to jointly counter the global financial crisis, maintain global financial stability and boost the recovery of the global economy. Sarkozy said France is satisfied with the development of bilateral relations and hopes to further cement dialogues and cooperation with China in areas such as politics, trade and nuclear energy. As the current chair of the G-20, France will host the group's summit in Cannes in November. Acknowledging the important role China has played in world economic affairs, Sarkozy said France will discuss major problems confronting the global economy with China.